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The NanoBusiness Alliance today announced that more than 75 nanotechnology companies have voiced their significant and continuing concern for the Patent Reform Act of 2007 as currently written. The Alliance and its member companies are urging Congress to carefully consider the implications of the proposed patent reform legislation on science-based innovation.
It is the position of the NanoBusiness Alliance that patent reform should strengthen, not weaken, protection for intellectual property and incentives for innovation. However, S. 1145, as drafted, puts science-based innovation at risk. As such, numerous nanotechnology companies have joined with others from a wide variety of industries including high-tech, financial services, manufacturing, med-tech, green-tech, and pharmaceuticals to express strong concern for this bill.
"The NanoBusiness Alliance supports prudent patent reform, however, the legislation as drafted is likely to have significant unintended consequences for entrepreneurs and innovators across a plethora of industries, particularly in those working to commercialize nanotechnology," said Sean Murdock, Executive Director of the NanoBusiness Alliance. "We hope and expect the Senate will address overreaching provisions before moving the bill forward, so we can pass meaningful and beneficial patent reform."
This morning, Mr. Murdock spoke at a press conference with representatives from Monsanto, Masimo, ARYx and Three Arch Partners, and will also be participating in a Senate Staff Briefing this afternoon.
About NanoBusiness Alliance
The NanoBusiness Alliance is the industry association for the emerging nanotechnology industry. Through its extensive network of leading startups, Fortune 500 companies, research institutions, non-governmental organizations and public-private partnerships, the Alliance shapes nanotechnology policy and helps accelerate the commercialization of nanotechnology innovations. The NanoBusiness Alliance has offices in New York, Chicago, Connecticut and Washington, DC.
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